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Duvall residential market update for November 2013

This is a repost from our blog at http://wp.me/p40yYv-3Lk

What was new in the Duvall residential market during November?

One quick answer could be "Not much is new," and that would be particularly true when it comes to listings. There were only 7 'new' listings from the 1st through the 30th. That number is even smaller when you consider that 2 of those new listings were simply a cancelled and an expired listing getting relisted. That number probably shouldn't come as much of a surprise. When the holiday season starts, many people don't want to deal with trying to keep their home in prime condition for showings while dealing with prepping for visitors, decorations, shopping, etc. For buyers, the positive aspect is that they can usually consider the sellers of those properties that do come on the market to be serious about selling.

Expired and cancelled listings? What is up with that?

Since I mentioned cancelled and expired listings, lets cover those. Listings can expire or get cancelled for a variety of reasons. Cancelled listings often show up again, relisted with a new agent... and so do expired listings. This will usually indicate a seller wasn't terribly happy with their agent or their service. It might also indicate an agent who was not so happy with their seller. Considering the time of year, it could also be a case of sellers who don't want to have their property on the market during the slowest selling season or during the holidays.

Did anything sell in November?

Sure! First, 6 properties went "under contract" in November. That means that the seller accepted an offer, but the transaction has not closed. Three of those properties are in the inspection phase, 1 property is sold, contingent on the buyer selling their home, and 2 others skipped the inspection phase altogether. In the latter case, either the buyers pre-inspected or decided not to get an inspection. I hope they got the inspection. And, a whole lot of sales closed in November, sixteen in fact. That made for a busy week before Thanksgiving, you can be sure! A few of those sales actually opened and closed in November.

November statistics

Here are some handy statistics for the currently available properties and recent sales Current listings:

  • Average list price - $442,114
  • Average list price/SF - $208.83

Under contract properties: (sorry, we don't know the offer price, that is a secret until the deal closes)

  • Average list price - $438,281
  • Average list price/SF - $176.14

Sold properties:

  • Average sale price - $395,598
  • Average sale price/SF - $190.52

How many months of inventory do we have?

According to the MLS statistics available, there are only 2 months of inventory available in Duvall. That implies a very strong seller's market. So, if you are considering selling, its probably a good time. Want to see what all is currently available in Duvall? Follow this link to see currently available properties: http://properties.tellusre.com/i/Duvall_Homes_for_Sale

This is an excerpt from an article on our company website. You can find more posts at http://tellusre.com/feed/

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Jason Hershey, Designated Broker
Tellus Real Estate Solutions, LLC
PO Box 1113
Duvall, WA 98019
Office: (877) 413-7325
Cell: 425-417-5389Fax: 425-223-3148

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Comment balloon 0 commentsJason Hershey • December 19 2013 11:58PM

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